Insights

Bennelong Funds Management has signed a memorandum of understanding (MOU) and partnered with US-based Monroe Capital to further expand its distribution to Australia and New Zealand.

The aging population presents a powerful investment theme, but as the recent legal setback for Lifestyles Investment Communities (ASX: LIC) shows, execution matters. LIC’s plights highlight the risks of complex structures in thematic investing. In contrast, North American senior housing REITs offer a clearer, cashflow-driven model with strong secular tailwinds.

‘Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.’ Peter Lynch, Learn to Earn, 1995

If you think share prices are becoming more volatile during earnings season, you’re not imagining it.

Quality companies typically trade at premium valuations, but when cyclical headwinds are conflated with secular falls, even the best businesses can be dismissed by the market. When heroes stumble excessive negativity can present opportunities to buy quality at a discount. 

As markets navigate the post-COVID landscape, many assumptions once considered unshakable are being challenged. E-commerce, once seen as unstoppable, may be hitting its limit. Physical retail is making a quiet comeback, while industrial real estate faces headwinds.

The North American freight rail sector is a critical pillar of the US economy and one of the largest and oldest sectors in the global listed infrastructure universe.

"The investor's chief problem — and even his worst enemy — is likely to be himself." Benjamin Graham, 1949